“PNC Bank is engaging with the Invent Penn State initiative to drive economic development in Happy Valley,” said Jim Hoehn, PNC regional president of Central Pennsylvania. “We have already begun working with startups at Happy Valley LaunchBox, and look forward to seeing the impact our relationship will have in the future.”
PNC’s commitment to Penn State’s mission spans more than a half-century. Penn State Children’s Hospital, the Schreyer Honors College, the Smeal College of Business, and the College of Information Sciences and Technology are just a few of the areas that have received leadership-level support from PNC. The University recognized PNC as its Corporate Partner of the Year in 2007. With PNC’s recent commitment to Happy Valley LaunchBox, the company’s total philanthropic support for the University now exceeds $9.4 million.
Opened on March 31, 2016, Happy Valley LaunchBox has already graduated 31 startups. One such startup is Project Vive, developed by Penn State biomedical engineering student Mary Elizabeth McCulloch, which allows individuals with nonverbal cerebral palsy and related disabilities to communicate using a low-cost speech-generating device named “Voz Box.”
“I had a dream to give a voice to the voiceless, but I lacked the money, experience and materials to pursue this dream,” said McCulloch. “The people and resources at Happy Valley LaunchBox enabled me to turn my idea into reality. I am deeply grateful to Invent Penn State for making these resources available — and to PNC for investing in the innovation hub model.”
Happy Valley LaunchBox, Powered by PNC Bank, provides no-cost business advice, legal and intellectual property advice, as well as co-working and meeting space from 8:30 a.m. to 4:30 p.m. Monday through Friday. The LaunchBox also offers two no-cost startup accelerator programs — the Idea Test Lab and the FastTrack Accelerator — which run multiple times per year and afford their participants up to one year of co-working space. All services are available to anyone — students, faculty and community members. Learn more at launchbox.psu.edu.
About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking, including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
About Invent Penn State
Invent Penn State is a Pennsylvania-wide initiative to spur economic development, job creation and student career success. Invent Penn State blends entrepreneurship-focused academic programs, business startup training and incubation, funding for commercialization, and university-community collaborations to facilitate the challenging process of turning research and discoveries into valuable products and services that can benefit the Commonwealth and humankind. Learn more at invent.psu.edu.
About 'A Greater Penn State'
Gifts from Penn State's alumni and friends have been essential to the success of the University's historic land-grant mission to serve the public good. To fulfill that mission for a new era of rapid change and global connections, the University has begun “A Greater Penn State for 21st Century Excellence,” a fast-paced campaign focused on the three key imperatives of a public university: Private support will keep the doors to higher education open to hardworking students regardless of financial well-being; create transformative experiences that go beyond the classroom; and impact the world by fueling discovery, innovation and entrepreneurship. To learn more, visit greaterpennstate.psu.edu.